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AMCON Moves To Recover N4.4trn Debt Nationwide

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5 years ago

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The Asset Management Corporation of Nigeria (AMCON), says it is pushing hard to recover the N4.4 trillion debts owed the company in failed financial institutions it took over its liabilities.
Head, Corporate Communications Department of AMCON, Mr Jude Nwauzor, said this yesterday in Enugu while briefing journalists on enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan.
Nwauzor said that if the company could recover the N4.4 trillion debts; the country would not have any need to borrow for infrastructural development.
“If we can recover the whooping N4.4 trillion within the time frame; we will not be borrowing for our infrastructural developmental needs,’’ he said.
On the latest court enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan, he said that AMCON secured “a valid court injunction’’ to take over the property after out-of-court negotiation and settlement failed.
The spokesman said: “We simply came to enforce a court order with the court bailiff and policemen attached to him.
“The enforcement is to take over the landed property used as collateral for taking the failed loan.
“AMCON has nothing doing with a school or shutting it down, as the school and its pupils occupying are still going about their normal learning and other human activities.
“AMCON does not deal with educational institutions, health institutions and religious organisation since these are institutions of public interest.
“So, as we speak, the school is open and academic activities ongoing”.
Nwauzor said that if anyone is not happy with the court order issued, even as the matter is still ongoing in court, he or she should approach the court to get a counter order.
“The ongoing use of the media to fault AMCON enforcement of valid court order is uncalled for and unfortunate.
“There is no amount of newsroom judgment that can overrule a valid court order,’’ he said.
It would be recalled that the property where the school is located belongs to Ferdinand Property Investment Limited.
Several years ago, Ferdinand Property Investment Limited, obtained a loan from UBA Plc, giving Corporate Guarantee in respect of the US$2.9 million AfDB loan granted to Ferdinand Oil Mills Limited in 1989.
Since the loan remained unliquidated, AMCON acquired it, following which the order and originating processes were served on the school on July 16, 2016, but the school pleaded to be given time to enable them to arrange how to settle AMCON.

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World Health Day: Rivers Govt Urges Regular Medical Check-Ups, Healthy Living

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April 10, 2026

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The Rivers State Government has called on residents to prioritize regular medical check-ups as part of efforts to promote healthier living and prevent disease.
This message was contained in a statement issued by the Rivers State Ministry of Health in Port Harcourt to commemorate the 2026 World Health Day.
The statement, signed by the Permanent Secretary of the ministry, Prof. Justina Jumbo, urged citizens to rely on credible health information from institutions such as the World Health Organization and the Nigeria Centre for Disease Control, as well as other verified media outlets.
Jumbo emphasized the importance of adopting scientifically proven health practices, including regular handwashing with soap and clean water for at least 20 seconds, the use of hand sanitizers where necessary, and proper respiratory hygiene such as covering the mouth and nose while coughing or sneezing.
She further advised residents to ensure that children receive routine vaccinations, maintain a balanced diet, reduce the intake of salt, sugar, and unhealthy fats, and consume safe, clean water.
The Permanent Secretary also encouraged regular physical activity, recommending at least 30 minutes of exercise most days, while discouraging prolonged periods of inactivity. She stressed the need for adherence to prescribed treatments, avoidance of tobacco use and harmful drugs, and moderation in alcohol consumption.
In addition, Jumbo highlighted the importance of sleeping under insecticide-treated mosquito nets to prevent malaria, maintaining proper sanitation and waste disposal, and managing stress through adequate rest, relaxation, and social support.
Speaking on this year’s theme, “Together for Health: Stand with Science,” she called on individuals, families, communities, and governments to collaborate and rely on scientific knowledge to improve overall health and well-being.
“Science has helped us achieve remarkable progress in healthcare—from vaccines that protect our children to medicines that treat diseases and public health practices that prevent outbreaks,” she said.
She, however, noted that the benefits of science can only be fully realized when people trust accurate information and make informed health decisions.
“Standing with science means listening to trained health professionals, following proven health guidelines, rejecting misinformation and harmful myths, and supporting vaccination, hygiene, and preventive care,” Jumbo added.
The Permanent Secretary further disclosed that the Ministry of Health, under the leadership of Governor Siminalayi Fubara, has recently employed trained health professionals into the Rivers State University Teaching Hospital and the Hospital Management Board to strengthen healthcare delivery.
She urged residents to make health facilities their first point of call whenever they experience any health challenges and called for greater support for healthcare workers who continue to dedicate their lives to saving others.
By John Bibor
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Rumuji Youth Leader Condemns Protest, Disowns Alleged Government Empowerment Claim

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April 10, 2026

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The Youth President of Rumuji Community in Emohua Local Government Area of Rivers State, Hon. Emeka S. Igwe, has condemned the recent protest to the Government House and Greenville NLNG Limited, allegedly instigated by one Anele Ogbu.
In a press statement signed by him and made available to journalists in Port Harcourt, Igwe dissociated the Rumuji community from the protest, describing it as counterproductive and not sanctioned by his office.
He also dismissed claims that the Rivers State Government is planning to empower over 100 youths in Odegu Kingdom and other communities in Emohua Local Government Area, stating that he has no knowledge of such an initiative.
Igwe warned Anele Ogbu to desist from actions capable of inciting unrest in the area, alleging that misleading information has been consistently circulated to deceive unsuspecting members of the public.
He expressed concern over what he described as a growing trend of misinformation, noting that if the purported government empowerment programme were genuine, it would have been officially communicated through appropriate government channels.
According to him, as the youth president of Rumuji, he would have been duly informed and mobilised youths from the community to participate in such a programme if it truly existed.
Igwe further questioned the credibility of the claims, arguing that an initiative of such magnitude targeting at least 100 youths per community across Emohua would not be disseminated informally by a single individual.
He reiterated that the protest did not emanate from his office and maintained that Anele Ogbu lacked the authority to mobilise youths on behalf of the Rumuji community.
The youth leader also alleged that an ongoing arson case involving Ogbu has contributed to tension and unrest in the community, further deepening divisions among residents.
He explained that the purpose of the statement was to clarify the situation, correct what he described as false narratives, and calm rising tensions in the area.
Igwe urged parents and guardians to caution their wards against being misled into participating in activities that could lead to unnecessary conflicts.
He also advised the general public to verify information from credible sources before acting on it, stressing the need for vigilance in the face of increasing misinformation.
“It is important for people to ask critical questions and avoid being drawn into actions that may have serious consequences,” he said.
The Rumuji youth president reaffirmed his commitment to promoting peace and constructive engagement within the community.
John Bibor
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship

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April 10, 2026

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The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.

The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.

Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.

George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.

“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.

“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.

The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.

It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.

Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.

Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.

“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.

The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.

 

Tonye Orabere

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